CBSE MCQ Class 11 Accountancy Chapter 4 Recording Of Transactions 2

MCQ Class 11 Accountancy Chapter 4 Recording of Transactions 2 : MCQ Questions for Class 11 Accountancy with Answers PDF Free Download prepared here according to the latest CBSE RBSE and Other State Board syllabus and NCERT curriculum.

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MCQ Class 11 Accountancy Chapter 4 Wise with answer and Free PDF Download

MCQ Class 11 Accountancy Chapter 4 Recording of Transactions 2

Q1. Goods purchased on cash are recorded in the

(i) Purchases (journal) book
(ii) Sales (journal) book
(iii) Cash book
(iv) Purchases return (journal) book

(iii) Cash book

Q2. Which account will be debited in case Life insurance premium is paid by proprietor from business cash?

(i) Drawings A/c
(ii) Capital A/c
(iii) Insurance A/c
(iv) Cash A/c

(i) Drawings A/c

Q3. Balancing of account means :

(i)Total of debit side
(ii) Total of credit side
(iii) Difference in total of debit & credit
(iv) None of these

(iii) Difference in total of debit & credit

Q4. Income tax is treated as-

(i) Business Expense
(ii) Direct Expense
(iii) Personal Expense
(iv) Indirect Expense.

(iv) Indirect Expense.

Q5. Cash book does not record transaction of:

(i) Cash nature
(ii) Credit nature
(iii) Cash and credit nature
(iv) None of these

(ii) Credit nature

Q6. Which account will be debited in case wages are paid for installation of machinery?

(i) Machinery A/c
(ii) Installation A/c
(iii) Wages A/c
(iv) Cash A/c

(i) Machinery A/c

Q7. If total assets of a business are ₹ 1,80,000 and net worth is ₹ 50,000, outside liability will be

(i) ₹ 1,30,000
(ii) ₹ 2,30,000
(iii) ₹ 1,80,000
(iv) ₹ 90,000

(i) ₹ 1,30,000

Q8. A cheque on which two parallel lines are drawn in the left top corner is called –

(i) Bearer cheque
(ii) Traveller’s cheque
(iii) Account payee cheque
(iv) None of these.

(iii) Account payee cheque

Q9. The periodic total of sales return journal is posted to :

(i) Sales account
(ii) Goods account
(iii) Purchases return account
(iv) Sales return account

(iv) Sales return account

Q10. Which is not contra entry in the cash book

(i) Cash deposited into bank
(ii) Cash withdrawn from bank
(iii) Cash withdrawn from bank for personal use
(iv) None of these

(iii) Cash withdrawn from bank for personal use

Q11. Rent paid is a

(i) Personal Account
(ii) Real Account
(iii) Nominal Account
(iv) Liability Account

(iii) Nominal Account

Q12. Credit purchase of furniture shall be recorded in-

(i) Purchase book
(ii) Journal book
(iii) Cash – book
(iv) None of these.

(ii) Journal book

Q13. Credit balance of bank account in cash book shows :

(i) Overdraft
(ii) Cash deposited in our bank
(iii) Cash withdrawn from bank
(iv) None of these

(i) Overdraft

Q14. The Sales Return Book always has______balance

(i) Debit
(ii) Either debit or credit
(iii) Credit
(iv) None of the options

(i) Debit

Q15. A sale of goods to Ram for cash is debited to

(i) Ram
(ii) Cash
(iii) Sales
(iv) Purchases

(ii) Cash

Q16. Return of goods by a customer is recorded in-

(i) Purchase book
(ii) Sales book
(iii) Sales return book
(iv) Purchase return book.

(iii) Sales return book

Q17. Balancing of account means

(i) Total of debit side
(ii) Total of credit side
(iii) Difference in total of debit & credit
(iv) None of these

(iii) Difference in total of debit & credit

Q18. The total of the Sales Book is posted to

(i) debit of the Sales Account.
(ii) credit of the Sales Account.
(iii) debit of the Customers’ Account.
(iv) credit of Customers’ Accounts.

(ii) credit of the Sales Account.

Q19. The balance in Petty Cash Book is

(i) An expense
(ii) A profit
(iii) A liability
(iv) An asset

(iv) An asset

Q20. The first book of original entry is-

(i) Journal
(ii) Ledger
(iii) Trial Balance
(iv)None of these.

(ii) Ledger

Q1. Which account will be debited in case Life insurance premium is paid by proprietor from business cash?

a) Drawings A/c
b) Capital A/c
c) Insurance A/c
d) Cash A/c

a) Drawings A/c

Q2. While passing an opening entry, all the assets are______while all the liabilities are_____

a) Debited , credited
b) Credited, Credited
c) None of the options
d) Credited, Debited

a) Debited , credited

Q3. Which account will be debited in case wages are paid for installation of machinery?

a) Machinery A/c
b) Installation A/c
c) Wages A/c
d) Cash A/c

a) Machinery A/c

Q4. What are total number of subsidiary books available to record financial transactions?

a) 8
b) 7
c) 6
d) 12

a) 8

Q5. Name the transaction that is recorded in both sides of Cash book simultaneously.

a) Contra Entry
b) Dual entry
c) Double entry
d) Single entry

a) Contra Entry

Q6. All the indirect expenses are closed to_____

a) Profit and loss A/c
b) Cash Flow Statement
c) Balance sheet
d) Trading A/c

a) Profit and loss A/c

Q7. The Sales Return Book always has______balance

a) Debit
b) Either debit or credit
c) Credit
d) None of the options

a) Debit

Q8.Journal proper includes entries related to______

a) Sale of asset on credit
b) Sale of asset for cash
c) Sale of goods for cash
d) Sale of goods on credit

a) Sale of asset on credit

Q9. Purchase of machinery on credit is recorded in_______

a) Journal proper
b) Sales Book
c) Cash book
d) Purchase book

a) Journal proper

Q10. Income tax is treated as-

(a) Business Expense
(b) Direct Expense
(c) Personal Expense
(d) Indirect Expense.

(d) Indirect Expense.

Q11. A cheque on which two parallel lines are drawn in the left top corner is called –

(a) Bearer cheque
(b) Traveller’s cheque
(c) Account payee cheque
(d) None of these.

Q12. Cash purchase of goods is recorded in-

(a) Purchase book
(b) Sales book
(c) Cash – book
(d) None of these.

Q13. Credit purchase of furniture shall be recorded in-

(a) Purchase book
(b) Journal book
(c) Cash – book
(d) None of these.

(b) Journal book

Q14. Who prepares a debit note-

(a) Seller
(b) Purchaser
(c) Cashier
(d) None of these.

(b) Purchaser

Q15. Return of goods by a customer is recorded in-

(a) Purchase book
(b) Sales book
(c) Sales return book
(d) Purchase return book.

(b) Sales book

Q16. Goods purchased on cash are recorded in the

(a) Purchases (journal) book
(b) Sales (journal) book
(c) Cash book
(d) Purchases return (journal) book

Q17. Cash book does not record transaction of:

(a) Cash nature
(b) Credit nature
(c) Cash and credit nature
(d) None of these

(b) Credit nature

Q18. Total of these transactions is posted in purchase account:

(a) Purchase of furniture
(b) Cash and credit purchase
(c) Purchases return
(d) Purchase of stationery

(b) Cash and credit purchase

Q19. The periodic total of sales return journal is posted to :

(a) Sales account
(b) Goods account
(c) Purchases return account
(d) Sales return account

(d) Sales return account

Q20. Credit balance of bank account in cash book shows :

(a) Overdraft
(b) Cash deposited in our bank
(c) Cash withdrawn from bank
(d) None of these

(a) Overdraft

Q21. The periodic total of purchases return journal is posted to :

(a) Purchase account
(b) Profit and loss account
(c) Purchase returns account
(d) Furniture account

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